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Home > Crude Craters After API Reports "Disappointing" Inventory Build

Crude Craters After API Reports "Disappointing" Inventory Build

By Tyler Durden
Created 05/27/2015 - 15:38
Tyler Durden's picture [1]
Submitted by Tyler Durden [1] on 05/27/2015 15:38 -0500



 

WTI Crude hit new 6-week lows at $57.36 after the close as API inventory data showed a build of 1.268 million barrels (after 3 weeks of draws) - dramatically higher than the 5.2mm barrel draw last week. Cushing saw a very small 72k draw.

 

After 3 weeks of hope-strwen draws, API reports a build this week...

[3]

 

And so prices dropped rapidly...

[4]

 

Charts: Bloomberg

 

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Source URL: http://www.zerohedge.com/news/2015-05-27/crude-craters-after-api-reports-disappointing-inventory-build

Links:
[1] http://www.zerohedge.com/users/tyler-durden
[2] http://www.zerohedge.com/taxonomy_vtn/term/10861
[3] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/05-overflow/20150527_WTI1_1.jpg
[4] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/05-overflow/20150527_WTI_1.jpg